Purchase a Home

Stress Free Options For All

At Interstate Home Loan Center our trained team of licensed professionals will present a solution that best meets your needs. Our goal is to painlessly finance the home of your dreams.

There is nothing better than building equity and having pride in owning your own home. Let Interstate Home Loan Center, Inc. make this dream a reality for you. Our process is fast and painless. Purchasing a home is a big step and it requires knowledge, understanding and expertise that our Licensed Loan Officers can provide. Our Licensed Loan Officers and expert operational staff will handle your purchase as if it was their own home.

Click on the program that you would like more information about and start a conversation with us today about your new home!

Real estate agent offering house keys

Choose a Loan Type and Apply with Interstate Today

FHA Loan Requirements

FHA loans are backed by the Federal Housing Administration, an agency under the jurisdiction of the Department of Housing and Urban Development.

Down Payment

  • FHA loans require a 3.5% minimum required investment (MRI). Unlike some conventional products, all 3.5% can come from gift funds from an acceptable donor. Can be used to purchase a single family, multi family, condo* or PUD.

Maximum Loan Amounts
The maximum loan amount you can borrow is $1,149,825 in certain high cost areas for a single-family residence and even higher for a 2-4 dwelling.

Other Requirements

  • Credit score requirements are lower compared to other loans. The minimum required fico score is 580.
  • You could still qualify for an FHA loan if you have had a bankruptcy or other financial issues in your history.
  • All loans have an upfront mortgage insurance and monthly mortgage premiums.
  • Up to 6% seller concession.

Call and speak to your Loan Officer about a Pre-Approval today!                                               * Condo must be FHA approved

Click here to learn about the program.

VA Loan Requirements


A VA loan is a top benefit of military service for eligible veterans, service members, and surviving spouses.
If you currently serve in the military or are a veteran, you’re potentially eligible for a VA loan.
A VA loan is backed by the Department of Veterans Affairs (VA).

Millions of military veterans and active service members are eligible for a VA Home Loan which allow veterans to purchase a home with NO money down in
most cases! *

Learn more about our special financing available for Military Veterans; let your benefits work for you!
*Subject to qualification

Click here to learn about the program.

Here are some of the Low-Down Payment Options We Offer:

3.5%

FHA home loan programs provide financing with down payments as low as 3.5%. This popular program is also available for qualified borrowers that may have less than perfect credit histories.

Click here to learn more about FHA Programs

3%

If qualified, you can make a down payment as low as 3% on conventional home loans with private mortgage insurance (PMI). To qualify, you must be a first-time homebuyer.  A first-time homebuyer is defined as someone who has not owned a home in the last three (3) years.  Generally, these loans have stricter credit requirements than FHA programs. PMI may be canceled when the mortgage balance is below 80% of the home’s value if you request its cancellation. It will fall off automatically at 78% if you do not request cancellation first.
Click here to learn more about Conventional Loan Programs

3% – 5%

Home Possible® and HomeReady® mortgages offer low down payments for homebuyers in high-cost or underserved communities. This program is available for low to moderate income buyers. To find the median income for the area you are looking in, click here Income Lookup Tool.  Have additional questions? Ask your Interstate Home Loan Center licensed loan officer today!
Click here to learn more about Conventional Loan Programs

0%

No down payment loan programs are available for qualified veterans, active-duty service members of the National Guard and Reserves. Contact your Interstate Home Loan Center licensed loan officer today.
Click here to learn about our VA Loan Programs.

Click here to learn about the program.

Conventional Loan Requirements

A conventional mortgage loan is a “conforming” loan, which simply means that it meets the requirements for Fannie Mae or Freddie Mac. This is the standard loan program that most people consider when purchasing a home. 

Conventional loan Criteria

  • 620 Credit Score minimum
  • 5% minimum down payment (3% for 1st time homebuyers)
  • Avoid mortgage insurance with down payments of 20% or more
  • Fixed rate or Adjustable rates available
  • 10 year to 30 year terms
  • Property types: Single Family, Multi Family, Condo, Co-op or PUD
  • The conforming loan limit for a single-family home is $766,550. There are exceptions. To see loan limits for your area, visit Conforming Loan Limits Map | Federal Housing Finance Agency (fhfa.gov)

Click here to learn about the program.

Purchasing an Investment Property

Interstate offers many options for purchasing investment properties. Conventional loan programs can be used to purchase a home and require underwriting of the borrower’s income while considering the proposed rental income of the subject property as well as the borrower’s debts. There are alternative loan programs available to allow borrowers to qualify without their own income.

Conventional:

Conventional investment property loans require the borrower to meet conforming loan guidelines. This means the borrower’s income, credit, debts, and housing expense are all considered as part of underwriting.

  • 620 minimum credit score
  • 15% minimum down payment (varies by property type)
  • 10yr to 30yr terms
  • Proposed rental income used as part of borrower income
  • Property types: Single family, multi-family, condo

Click here to Learn more about a Conventional Investment Property Loan

 

Non-QM Programs:

Not all investment purchases fit into a “conventional mold”; in this case a Non-QM mortgage is a fantastic option!

Non-QM Investment Loan Options:

  • DSCR (Debt Service Coverage Ratio)
  • Investor Lite Doc
  • Asset Utilization
  • Bank Statement Program

We also have second-home options! Call us today to find out more.

Click here to learn more about our Non-QM programs.

Self Employed Borrowers: 

Self-employed borrowers can have difficulty finding a loan option that fits their needs. Interstate offers several loan programs to meet the needs of self-employed borrowers.

Conventional and FHA Loans

Both conventional and FHA loans can be used by self-employed borrowers to purchase or refinance a home. These two loan programs will require documentation of income via filed tax returns and conforming underwriting guidelines.

Click here to learn more about FHA Loan Programs

Click here to learn more about Conventional Loan Programs

Non-QM Loans

Many self-employed borrowers don’t fit into the conventional and FHA loan box. There are alternative income qualification loan programs available to meet the needs of these borrowers

Click here to see our Non-QM Programs

Non-QM Loan Options

Are you having difficulty qualifying for a mortgage? A Non-QM mortgage could help you reach your goal of homeownership!

Mortgages are not “one size fits all”. Interstate Home Loan Center knows that!

What is a Non-QM Loan?

A Non-QM loan, or non qualified mortgage, is a loan that is not required to meet standard agency documentation requirements from the CFPB. Non-QM loans are not insured, guaranteed, or backed by FHA, VA, Fannie Mae or Freddie Mac. Due to their more versatile and flexible qualification guidelines, many can secure financing on a new home who wouldn’t normally meet standard lending requirements.

Who is a good candidate for a Non-QM loan?

  • Self-employed and small business owners
  • Real Estate Investors
  • Retirees
  • Foreign Nationals
  • Commission Based Workers
  • People with high debt
  • Borrowers who would otherwise not meet the mortgage requirement for Conforming loans

Click on one of the Loan Programs Below to Help with Your Unique Needs:

Click here to learn about the program

Renovation Loan

When purchasing a home that needs renovation you can either select a Fannie Mae Homestyle Renovation Loan or an FHA 203K Renovation Loan to make your home perfect.  Check out the program details below:

Fannie Mae Homestyle® Renovation Loan

  • Can be used for to purchase or renovate an existing home
  • Minimum fico score of 620
  • Can be used for any project even “luxury items” that are not allowed under the FHA 203k program
  • Contractors only need to be licensed, they do not need separate insurance
  • One- to four-unit primary residences, one-unit second homes, or one-unit investment properties, including units in condos, co-ops, and PUDs may all be financed.
  • You don’t have to live in the property while you renovate.

Click here to learn about the program

FHA 203(k) Renovation Loan:

FHA offers a renovation loan program that allows borrowers to remodel an existing home. This program can be used to purchase a home that needs repair and updating or even to refinance the home they already own. Just like the standard FHA loan, it offers more flexible guidelines than its conventional counterpart.

  • Low credit score requirements
  • Purchase a home that needs repair
  • More cost effective than many other construction financing options
  • Rehabilitation funds and home purchase are done in a single closing and result in a single mortgage payment
  • Down payment and closing costs can 100% gift funds
  • Construction must be completed by a licensed and insurance contractor
  • Can be used to buy primary residences: Single family, multi-family, condo

Repairs and Rehabilitation that can be financed:

  • Bathroom remodeling
  • Kitchen remodeling
  • New windows, exterior and roof
  • Painting
  • Upgrade/repair electric
  • Repair property damage
  • Upgrade heating system
  • New flooring
  • New appliances
  • Install air condition

Click here to Learn How to Make Your Dream Home Perfect

Angel Muniz is the gold standard of lenders.

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Look no further than Angel Muniz if you're searching for a mortgage consultant who is not only knowledgeable but will take the time address all your concerns and questions. My realtor, Linda Rodriguez, recommended Angel Muniz. I was very impressed with his approach. He was very personable and thoroughly explained the entire loan process so I knew what to expect. Anytime I needed to reach him, all I had to do was call, email or text and Angel will get back to me as soon as possible if he is unavailable at the moment. Angel also makes sure to follow up with me to see if I had any needs or questions. Communication is key! With Angel, it feels like talking to a friend rather than a random agent who looks at me just like another number. Towards the end of my loan process, I secured a home insurance policy on my own only to find out Angel already took care of that tedious detail with a lower price! Now that is service. Angel is always in the background working to ensure the loan process goes smoothly. I highly recommend Angel Muniz for any home loan needs.

Angie from NY
worked with Angel Muniz

Professionalism and Responsiveness,

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Angel helped my family with everything. He speaks English and Spanish . He explained everything in both languages. Excellent service and kind people .

zuser201607011221173 from NY
worked with Angel Muniz

Mario is an excellent loan officer

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My husband and I just purchased a house and Mario helped us so much true the whole process we are ver thankful to him for being so honest to us always being there to answer all our questions and concerns. We highly recommended him he will help you the best way on purchasing your home.

beatriz1610 from NY
worked with Mario Gonzalez

Best in the biz

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As a real estate agent and attorney, there is no one else I refer clients, friends, or family to and I just used Greg for my own home purchase. He is knowledgeable, approachable, kind, and goes above and beyond for all his clients. He makes you feel like you are family and that he has all the time in the world to help you. Greg is exceptional and extremely professional. There is no one else to use!

Alanna McGovern from NY
worked with Gregory Bellezza

THE BEST!!!!

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Greg is INCREDIBLE!!!! Cannot recommend Greg enough, I will be sending all my friends and family to him! He is attentive, timely, responsible, willing to answer questions or concerns at ANY time with a quick response! We are first time home buyers and Greg has made this processes a pleasant one! We had our mind at ease because we knew we were in good hands with Greg and his team. I cannot say enough good things or thank them enough for everything they have done for us! We are so thankful we were able to get our first home because of Greg!!! Thank you!

NikkiChisholm5 from NY
worked with Gregory Bellezza